/biz/ - Business & Finance

He's right, you know.

>>49787831
I wonder when people like this will finally reach the acceptance stage. The crypto crowd is so delusional it's crazy. The fanatics will probably be able to hold the $1k level for a few years until they finally get bored as well.

>>49787940
Never - it's too big to fail at this point
350bn is nothing. If 100 million people dca 3500 dollarions into bitcoin it's 350bn.
This crash is not flushing hodlers, it's flushing speculators and hedgefunds getting hit by margin calls. This is actually a god sent gift to the average joe.

>>49788321
You think 100M people are hardcore BTC fanatics? Lmao.

>>49787831
Do they realize that not every investment will increase over a long time horizon? They seem to believe that if they just hold long enough they will eventually make money.

>>49788404
I think so yes - I think there are hundreds of millions of people willing to put in 1-3k dollars into btc at these levels, because they've seen this train ride 3 times already, why miss a fourth.

My father is one of them. He's salivating at buying at 10k and I think there are many more like him, who feel their retirement is dwindling and wanna speculate outside of the stockmarket.

>>49788598

>>49788598
99% of people don't give a fuck about fake internet money. A couple of percent may have thrown in some due to the hype and mania of the markets, but they only bought because they thought they could sell it to another schmuck for more, they don't care about muh tech.

>>49788638
80% of those crypto accs are people holding multiple or old unused ones. And lots of brown/black people from shitholes holding $1 worth.

>>49788683
exactly
and since EVERYONE on the entire globe saw this run, EVERYONE on the entire globe know what can happen during a crypto bullrun.

I honestly expect bitcoin to do a v shape recovery once this leverage is flushed out of the system. Might be wrong, but it wouldn't surprise me one bit. Hehe, one bit, that's funny.

>>49788776
Why do you reddit types come here?

>>49788598
literally everyone I meet when I speak about finance and trading they sulk back and revile asking in a way like im a leper if what I do has anything to do with crypto and I have to explain that what I do has nothing to do with crypto. I have found out it is the same with all of them they have all known a dumb relative who got hooked into the crypto cult and literally threw a whole sector of their immediate or extended families wealth away. nobody is buying back into this scam once this recession and dump is complete. the normy population has been completely saturated with the knowledge of cryptos existence and the dumb ones have been scammed already.

>>49788718
how is this dissimilar at all to internet users? "black brown from shitholes using the internet one time at the library"

>>49788718
Personally I have 4 wallets and like 25 cent of shiva ;)

>>49788799
so they can shit on your piss colored id, u mongoloid reddit single sentence bot, kys

>>49788776
The idea that everyone is following crypto closely from the sidelines salivating to buy the dip of an extremely volatile asset with no intrinsic value in the hope of making it, is insane.
Pretty much anyone who have any interest in such a speculation has already bought a long time ago. Market mania and extremely easy monetary policy drove the tulip 2.0, since that is now long gone so will btc.

>>49787940
they already lost so much that they don't care about further losses, they went full "fuck it" mode

>>49788968
why u here talking shit, son?

>>49789076
Because it's fun watching the meltdown and cryptokiddies seething and coping.

>>49789062
>crypto is dead
You retards say this every cycle.

>>49787831
This is a very good point of view when investing into real assets such as index funds or real estate. Crypto though......

>>49787831
because the same thing happens every few years?

>>49788412
its not about making money
its about saving it
your "money" is losing value as time goes on

>>49787940

Much like regular stonks being even remotely successful with crypto deludes people into thinking they're hackers or engineers in some way. They will ride this all the way down until there is nothing left, when all the good crypto gains were sold long ago and turned into regular stock portfolios. The entire concept of a coinfolio or NFTs is stupid - at least when fiscalized as financial instruments.

>>49789152

losing 6% per year versus losing 60%

I don't like the Fed but it's plausible to make 6% on stocks yoy.

>>49789116
Except this time the money printer is turned off due to inflation. First time that has happened in the lifetime of shitco and it will not survive it.

Holy shit. I was thinking of holding until I realized it's a literal reddit mindset. Just sold everything fuck this ponzi scheme for midwits.

Maybe the real making money was the frens we made along the way.

>>49788321
>If 100 million people dca 3500 dollarions into bitcoin it's 350bn.
More delusion. Cryptards are losing their life savings in this crash, and in the coming years people will be losing billions through various crashes in debt, housing, stocks, etc while also being eaten alive by hyperinflation. Even if there are 100 million people on earth with a few thousand dollars to invest, Bitcoin will be very low on their list.

>>49788598
like father, like son: retarded

>>49789062
This

>>49789152
>your "money" is losing value as time goes on
Why does this matter?

>>49788968
I have multiple normie friends and family members who are interested in buying in at these prices. One is about to sell their house and put in a decent sized lump sum. Another is DCAing with their monthly salary, starting a few weeks ago. The others will probably throw in a few hundred at least and let it ride. These are people who own no crypto or very little.

>>49789345
Based, the 4chan race dunks on plebbit cucks yet again. First ones in and first ones out. While they are stuck in their echochamber subs the mumus here will be bullied into selling by the bobos.

>>49788598
Delusional, the last 2 runups did not have people worried about food or fuel prices. Will all these people be willing to put money into bitcoin with their unemployment checks?

>>49789436
My father literally cashed out the day Elon sold Tesla and has held gold since the 80th ... Only reason he didn't buy tulips is because and I quote "it's a retarded ponzi without intrinsic value, manipulated by early druglords and pedophiles, designed to lure retards like you to lose all their money".

>>49789370
I'm shorting my positions and buying more

What are you, sitting on cash and projecting that everyone is gonna lose all their money? Ain't happening homie

>>49789489
Stop tricking your friends into buying fake money that is going to zero.

>>49788598
>I think there are hundreds of millions of people willing to put in 1-3k dollars into btc at these levels
kek, not gonna happen
Take it from this based boomer.

>>49789489
This is EXACTLY the vibe I'm getting, especially after Russia invade Ukraine and people are fearing losing control over their fiat bank accounts.

>>49789351
based

>>49789625
But now he suddenly changed his mind and wants to buy? Because of what?

>>49787940
did you really miss out on crypto dude?

>>49789654
Buffet is a dividend compound investor, whom btw will get utterly crushed in this environment of tightening monetary policy. If he put 0.5% into Tesla/Bitcoin or even fucking apple he'd be worth so much more. Playing the long safe game isn't always the smart bet...

>>49789730
Because he has cash on the sideline and can see the writing on the wall. That the central banks won't be able raise rates above inflation. Eurozone is already crumbling and they'll do QE(FUCKING MORE QE) for the shitty economies in the south and east whilst we, or him, cuz he has much more wealth will have to pay for it with increased taxes more inflation and a lowered pension. He doesn't like crypto, because it's a ponzi, but it has some value by being able to store economic power digitally if shit truly hit the fan. It's hard to lug gold half around the globe...
>tl.dr he's worried about the economic future of the eurozone and his pension.

>>49789752
Buffet is a value investor. Bitcoin has no value, therefore Buffet does not buy it.

>>49787831
This affects cryptobros (<1 mln worldwide) only

>>49789752
Buffet did that multibillion buy when SPX was 3900. He's really out of touch at the moment IMO. Retirement time?

>>49788718
Why is this a bad thing? One of the purposes of crypto is to allow the easy flow of money. A few bucks for some guy in Africa and the ability to easily spend it is what we want.

>>49789880
I don't think they believe the economy to be as bad as it honestly, objectively is because they've been detached from reality since 08 and has been riding a wave of MMT and QE for 14 years. They should sell 90% and buy gold.

>>49788321
>Never - it's too big to fail at this point
cope
your invisible computer money is not "too big to fail"
lol

>>49789847
Also one thing they DEFINITELY didn't see coming was the amount of people dying from covid. Millions working age people did die on top of the largest demographic shift in our lifetimes aka the boomer retirement. This is the only reason unemployment in US and the UK is at like a 50 year low whilst inflation is insane(money printing, sure).

>>49789752
Value investors will do insanely well in a high interest rate environment. The reason tech has done so well the last 10 years is because they don't actually make money, they just take debt. That is changing now and some of the big name companies are literally not gonna make it.

>>49789370
The pin has been brought to the everything bubble and we're watching in slow motion

>>49789847
None of that changes what he originally knew, that it has no intrinsic value. It's literally nothing at all. He can buy more gold to protect him against that, which can be stored in different locations if he's really that rich that he would have to move around enough that it would be a hassle. Also if you really think we're going back to the stone age you are delusional.

>>49790142
No I don't think we'll go back to the stoneage. But lets say, I live in a country close to the Ukraine conflict - shit can escalate and then we're stuck and have to move quickly. If banks go belly up or start to act funky like they did in 08 it's not a great time to hold large amount of wealth (pension size) in gold or in cash or in the banks. For that purpose, you need to flee, it's a pretty good safety net to own a bitcoin or two. The risk reward in that context makes sense.

>>49788321
>350bn is nothing. If 100 million people dca 3500 dollarions into bitcoin it's 350bn.
The fuck is this kind of copium lmao? This is an insanely large number.
Us silverfags are trying to do the same for a long time, on numbers far tinier. To empty the coomex (71Moz held in their vaults) we would simply need 7 millions ppl to get themselves 10oz (about $250) to pocket a reward far greater.

>>49789745
comments like this are admissions that crypto is just a ponzi scheme
>dude, you didnt get in early on the ponzi? kek

>>49789752
>If he put 0.5% into Tesla/Bitcoin or even fucking apple
nigger Warren Buffet owns like 5% of Apple. its literally his largest holding.

>>49788321
Retard

>>49790359
The terminology that acolytes of the scam like to use is "early adopter." Adopter of what exactly? Well, internet numbers that don't mean anything.

>>49787831
GO BACK

>>49787940
crypto isn't going anywhere. solid fundamentals, the blockchain works. and that is why people believe in it. they are not fanatics, they see something durable that isn't going to fail.
we are in a recession, and the first kind of risk people will unload if speculative assets like bitcoin. that doesn't mean the blockchain goes away. it will still be there, it will survive the economic meltdown. it's just code, code is language, language translates ideas and you cannot stop an idea.

>>49789625
Nice LARP. You are a nigger, you don't have a father and you clearly typed this fucking decade old FUD. KYS soon loser. You will always be poor and stupid lmao. When i'm done bleeding BTC dry, i'll come short your fag dad's retirement into the ground and SLURRRRRRP it. LMAO

>>49787940
You're literally at the bargaining stage, reread your own post

>>49790300
Stocks were never in danger in 08, only cash deposits over a certain amount that's guaranteed. Just hold stocks in international brokers that are safe. Physical gold and or physical etfs and perhaps some property/land in a safer European country. I would never buy any crypto. All the bubbles are going to deflate and this stinker is worthless.
CBs are not going to completely crush inflation, but they aren't going to go back to 0% rates and huge QE programmes either with inflation significantly above their 2% target.

>>49790095
>millions died from covid
Yet year to year deaths have not changed, interesting claim. Its almost like you have your life savings in bitcoin and are about to lose it all...

>>49790512
>solid fundamentals
Lmao what fundamentals?
Yes the blockchain works, you are able to send your digital tokens to other people, who cares it's still worthless. It doesn't even work as a currency because costs are much higher than for normal currency transactions. Doesn't work as a store of value either because it has no value. People have desperately tried to find some use case for it but there isn't any. Fiat works just fine for what it is. Gold is a store of value with a pretty much fixed low inflation rate (lower than BTC currenty btw) and the metal actually has intrinsic value.

>>49787831
>trade fake money
>for "real money"
>to ultimately trade real money back to fake money to buy a house and car

cryptoshits will all rope soon, have a nice flight

>>49790573
We'll see.
The cure for higher prices is higher prices.
Same goes for being poor or feeling economically out of luck. Millions of people around the world would rather speculate in crypto now that its here and clearly not going anywhere than working nine to five week in and week out raking up debt and getting prices out of every dream they ever had. And people are getting poorer and more desperate by the minute in this environment.
And there's always a greater fool in a debt based system.

>>49787940
Correct, cryptotards are crazy delusional
You do know Bitcoin is not "crypto" don't you? BTC is way above in a class of its own
If you don't understand the difference then shut up and do your homework
I have so many friends sitting in cash on the sidelines eagerly anticipating dumps like these, it's amazing
>$1k level
lel you're dreaming bud. I dream too. I'd stack so hard at $1k

>>49790761
spoken like a true bootlicker

>>49790761
>it's still worthless
actually a bitcoin is worth what anyone is willing to pay for one. if you are dumping bitcoin someone else is taking your bags. it's very like bitcoin will lose most of it's value, i can see it go to 10k or 5k. it won't go to $3.50 because there are enough people who believe in it that will prevent that. and maybe someday in the future, if we ever come out of the presidency, the crypto will recover and once again it will be worth exactly what a person is willing to pay for it.

>>49791051
bingo

>>49790359
Just caused you missed out on crypto and teenage sex doesn't make them ponzi schemes

>>49791010
How much are you down bro?

>>49789899
This is a really interesting point and not a small amount of money in NFTs for example are donated as a percentage written into the contract. I think there are ways that cryprto can have huge real world impact for literal fractions of pennies to the average user and the best part about programmable currency is it's baked in to the transaction. The biggest hurdle is adoption, which requires real-world use cases like crypto friendly grocers and gas stations.

>>49790761
Hello Peter Schiff
Bitcoin has value. 1 Bitcoin is currently valued at $18k
Bitcoin is superior to gold. Bitcoin is better because it is rarer. The supply is known & immutable. Bitcoin is weightless and moves at the speed of light. I don't need a safe or an army of soliders to guard it. Bitcoin can't be confiscated or controlled by state actors. I could go on and on, but you already made up your closed inflexible boomer mind

>>49791116
>greater fool theory
Holy shit. Yea crypto is not going anywhere but regulations will make people resent those who spout what you have been, as they continue to lose their life savings. Sympathy does not exist anymore from me.

>>49791126
I'm up 25x from jan last year, I just don't get why you'd bootlick bro, save it for twitter

>>49788404
1M people have 100x more money than you think.

>>49791051
Yes and people aren't going to be willing to pay anything soon. What is by far the most popular bull argument for why btc is a good investment? the tech? Lol no, it's look at how much line has gone up! It's success is based on nothing but momentum driven by gambling. When it goes below the March 2020 bottom and doesn't recover, people are going to lose interest for good. Beanie babies didn't get a second chance and neither will bitcoin.

>>49791232
>the speed of light
Audibly laughed, fucking slow old piece of shit.

>>49787831
>im happy that my investments went down
Lol. Lmao. Cope.

>>49788911
internet wasn't available for blacks/browns druing the majority of early-mid majority because of lack of infrastructure
mobiles change everything

>>49791232
Price is what you pay, value is what you get and all you get is a worthless digital collectable token.
>Muh scarcity
I could poop in a jar right now and promise to never poop in another jar. How much you wanna pay bro? It's a one of a kind item, much more scarce than bitcoin.

>>49791345
also true
I'm betting it won't drop that low.
I can see a world where companies world wide invest 1% in bitcoin and they'll use it between themselves to circumvent their respective fiat losing purchasing power. It's not an entirely outlandish idea.

>>49791232
>moves at the speed of light
Kys

>>49791506
If people are willing to buy farts in a jar for 300 bucks from "famous" e-thots people will buy Bitcoin...

17k accepted btw KEK

>>49791626
Sweet, 16k then 10k, then we're finally there
until the miners get hit with margin calls - kek

>>49791705
And yet who will trust crypto after they lose their life savings. Its hilarious you refuse to even respond. Go back to plebbit lmao, console those people.

>>49791345
Your mind is in the toilet. You're not thinking straight
Bitcoin is incredibly undervalued at current market price
Bitcoin is valuable because it is the first triple-entry ledger and the most secure distributed ledger
Land is a distributed ledger. The boundaries of countries are arrived at by the consensus mechanism of war & conquest.
Bitcoin is the distributed ledger of cyber space
If you want valuable land, buy land defended by the largest army.
Bitcoin has by far the largest army of miners defending the network, and it doesn't depend on a State authority to continue. It is the most secure way to store value ever invented.

>>49791855
People got rekt 00 and 08 and during this latest stock market crash and in crypto and in housing.
As long as we live in a capitalistic society, people will invest. One thing is sure however, those who got rekt 2008 and didn't invest lost out big. Those who got rekt 2001 and didn't invest lost out bit. And again, those who doesn't invest when the economy turns around will again, lose out big.

>>49789642
kek this. It's his doing

>>49787940
They won't because the price can keep on being slashed forever.
>$100
>$10
>$1
>$0.1
>$0.01
>$0.001
>$0.0001
All they while comong up with new "mathematical" bottoms, claiming it's a fire sale (of something already worth and backed by nothing), and calling dissenting opinions FUD. Crypto is the religion of the digital age.

>>49792240
I get the sentiment hoss, but economic and life conditions have changed for the west; and anyone with any sense to them can see that most crypto will be going away due to regulations and trust, but selling hopium while life savings are being wiped out is very bad taste imo.

>>49787940
>stage. The crypto crowd is so delusional it's crazy

When the true economic pain from the recession hits. Job market is still too strong, lots of retards feel invulnerable.

>>49787831
>I'm happy to see my BTC lose value!
>My horizon is decades! Even though Bitcoin has only been around since 09.
>I'm going to trade in my dollars backed by governments and accepted worldwide for virtual money that nobody actually uses as money!
>Be like me and throw away your life!

>>49790095
You're living in a fantasy land, almost no additional working age, able bodied people died of 'covid', no one even pretends that they did

>>49792702
I'm not selling anything, I just don't see it going anywhere.

>>49787831
Beanie babies 2.0

>>49790300
>But lets say, I live in a country close to the Ukraine conflict - shit can escalate and then we're stuck and have to move quickly
Don't worry anon, your paranoid media fantasies will stay just that

>>49787831
Such one track minds, absolute denial.
Shame there will be hordes of people that devote their life to a constant pump and dump, arelishing most the times they lose their life savings.

>>49790346
I'll help you guys out one day and get 1 kg of silver. Bout 35oz.

>>49787940
Literally never.
People doubled down into LUNA when it dropped 99% and then watched that drop a further 99%

>>49793175
Eventually all of r/buttcoin will either submit or rope

>>49788598
> seen this ride 3 times before
> it's dropped off a cliff like this 3 times before
Kek

>>49793244
Even conservative estimates show COVID-19 deaths likely account for less than 5% of the current labor shortage. That + boomers leaving the economy and the great resignation is the main cause for this labor shortage.

>>49793481
If you recall people were claiming that Luna was going to be the biggest wealth transfer in their lifetime and after the burned the tokens those that remained were going to be the new elite hand selected by the previous elite for their resilience and intelligence.
the stupidity on this board is as bottomless as the greed.

>>49788321
>too big to fail
I really hate this term. There is nothing on this planet that is too big to fail.

>>49793244
Everyone in my pharmacy got covid back in 2020. The pharmacy manager was put on a vent and died. One of the girls I work with had blood clots at 28 and can no longer work. I still do not feel 100% recovered 2 years later. I think that covid mutated over time and is now less harmful than it was 2 years ago.

>>49793313
Oh but most crypto will go away, to think btc is special is only because of first to market. Only a handful of crypto will survive what has already begun. Only iron hands will make it.

>>49794109
No btc is special because it's NOT a tech bet
It's retardedly simple and predictable and that is unironically one of the things that keep it from going extinct, like 99.9999% of the eth killers and eth itself once it goes PoS.

>>49788321
>it's too big to fail
You don't understand what this was supposed to mean in the first place. Too big to fail wasn't that the organization/money/whatever is fail-proof but that there would be bailing out because it failing would cause too much damage to society and hence it can't be permitted to fail.
Nobody uses Bitcoin for any real utility or anything. If it fails then some investors will lose a lot of money but society will go on as usual.

>>49790761
this
cryptoniggers want to learn the hard way. let 'em

cryptcucks will never learn. they will always lose money. and that's a good thing!

>>49788638
This graph is a lie though, crypto started in 2008.

>>49788911
Internet wasn't available by then and there's no double or triple counting involved really or even more since a lot of those users can be random wallets that nobody has access to it anymore.

>>49794219
Lol, eth was just the beta test for codius. And its funny codius is about to unironically launch in 2 weeks.

>>49787831
The game of life is survival. Crypto bros forgot and got addicted to the gamble.

>>49788638
So roughly 10 more years until crypto becomes mainstream to the masses if it continues to follow this trend

>>49791232
I wouldn't pay 18k for a bitcoin atm, it has stored its value down to 17.75k atm.

>>49787831
>ThIs iS aCtuAlLy GoOD
>BuY aND HoDL

lmao yeah, buy and hodl while it crashes by 90%+

>>49794389
You are confused because you hear bitCOIN and only hear the "Coin" part. So, you think it's all about money
Most people make the same mistake
In reality, it's just software running on a distributed state machine. There are no coins. There's no currency. It's not money
What makes bitcoin powerful and why it's not going away is that it's a new frontier of warfare.
History is littered with fools and losers who didn't adapt fast enough to new war tech. If you didn't get chariots first you were doomed. If you didn't take to the seas, you got dominated by naval powers. If you didn't take to the air, you stood no chance against your enemies who did,etc.
Bitcoin is the best cyber defense technology ever invented. State actors that adopt hashpower early will obtain an enormous strategic advantage

>>49788718
Yeah I have like 2 Eth wallets, and like 10 custodial wallets (not sure if custodial count) and a few shitcoin wallets (ICP, Azero, Etc)

>>49789690
You're from some E. Euro shithole, aren't you?

>>49795007
what a fucking cope LMAO

>>49790095
>Also one thing they DEFINITELY didn't see coming was the amount of people dying from covid.
The same amount of people died from WuFlu as the normal yearly rate for the flu. There wasn't an influx of millions of dead on top of the millions of yearly flu deaths. I see you're a retart that goobles up MSM kike propaganda. No wonder you like crypto.

This whole us vs them crypto vs stocks shit is hilarious to me because I know there are retards out there who fall for it like people who buy exclusively stocks think they're part of a fucking team, kek.
As if you can't buy both just as easily and that people who are MAKING MONEY would ignore an entire market.
Every time those kikes hit send I think about the price of electricity in tel-aviv going up.

>>49788321
>100 million people

lol, you are giving cryptos too much credit. there's no new money flowing in for years, it's one big circlejerk of whales shitting on you little fishes

>>49792175
>Your mind is in the toilet
Do you own a toilet, Pradeep?

>>49794974
Her face looks like chud

>bought at 20k
>sold at 17k
Bitcoin is dead. Fuck this market.

>>49795618
at least you're not as dumb as

>buy at 60k
>hoDL to 17k